Monday, May 5, 1997
Partners closed its second fund last week - Oxford Bioscience Partners II - an
$81.5 million fund that will continue the firm's focus in the biotechnology and
health science sectors. A key difference between the new fund and Oxford
Bioscience Partners I, a $54 million fund closed in 1993, is this fund will
have less exposure to biotechnology.
"The old fund was
about two-thirds biotech, with the remaining third in health care
services," said Jonathan Fleming, one of Oxford's four general partners.
"The percentage might even out a bit, with biotech representing 50 percent
or slightly more." Oxford will continue to participate in seed and
early-stage venture rounds, averaging $2-$5 million per deal, he said.